ServisFirst Bancshares, Inc. (NASDAQ:SFBS) announced a quarterly dividend on Tuesday, September 18th, Wall Street Journal reports. Shareholders of record on Monday, October 1st will be paid a dividend of 0.11 per share by the financial services provider on Friday, October 12th. This represents a $0.44 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, September 28th.

ServisFirst Bancshares has raised its dividend by an average of 78.6% per year over the last three years and has increased its dividend every year for the last 3 years. ServisFirst Bancshares has a dividend payout ratio of 17.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ServisFirst Bancshares to earn $2.74 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 16.1%.

NASDAQ:SFBS traded down $0.33 during trading hours on Tuesday, reaching $40.85. The company had a trading volume of 2,158 shares, compared to its average volume of 87,339. ServisFirst Bancshares has a one year low of $34.91 and a one year high of $44.95. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 22.95 and a beta of 1.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.98.

ServisFirst Bancshares (NASDAQ:SFBS) last announced its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. ServisFirst Bancshares had a return on equity of 18.67% and a net margin of 36.06%. The firm had revenue of $69.98 million for the quarter, compared to analysts’ expectations of $70.70 million. research analysts expect that ServisFirst Bancshares will post 2.49 EPS for the current fiscal year.

A number of brokerages have weighed in on SFBS. BidaskClub cut ServisFirst Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. Zacks Investment Research cut ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Stephens reiterated a “hold” rating and issued a $43.00 price target on shares of ServisFirst Bancshares in a research report on Monday, July 23rd. Finally, ValuEngine cut ServisFirst Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $44.75.

In other news, Director J. Richard Cashio sold 43,079 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $43.64, for a total transaction of $1,879,967.56. Following the sale, the director now owns 522,194 shares in the company, valued at $22,788,546.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William M. Foshee sold 12,034 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $42.35, for a total value of $509,639.90. Following the sale, the chief financial officer now owns 277,468 shares in the company, valued at approximately $11,750,769.80. The disclosure for this sale can be found here. Insiders have sold 85,113 shares of company stock worth $3,677,311 in the last 90 days. Company insiders own 13.62% of the company’s stock.

About ServisFirst Bancshares

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers in the United States. It offers demand, time, savings, and other deposits; checking, money market, and IRA accounts; and various certificates of deposit.

Read More: Return on Equity (ROE)

Dividend History for ServisFirst Bancshares (NASDAQ:SFBS)

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